Marathon Petroleum Corp. shares sank 0.33% to $61.07 Friday. This proved to be an all-around favorable trading session for the stock market, with the S&P 500 Index SPX rising 0.75% to 4,352.34 and the Dow Jones Industrial Average DJIA rising 0.44% to 34,786.35.
Marathon Petroleum Corp. closed $3.77 below its 52-week high ($64.84), which the company achieved on June 10th. The stock demonstrated a mixed performance when compared to some of its competitors Friday, as Exxon Mobil Corp. XOM fell 0.14% to $63.17, Chevron Corp. CVX fell 0.13% to $106.07, and BP PLC ADR BP fell 0.37% to $26.98.
Marathon Petroleum Corp trading volume (4.3 M) remained 3.3 million below its 50-day average volume of 7.6 M.The stock’s fall snapped a two-day winning streak. Following the terms of the conditions of the tender offer, Marathon Petroleum Corp accepted for payment an aggregate of 15,573,364 shares, representing approximately 2.4% of the shares issued and outstanding as of June 11, 2021, at a purchase price of $63.00 per share, for an aggregate purchase price of approximately $981 million, excluding fees and expenses related to the tender offer.
As Marathon Petroleum Corp accepted for purchase all the shares of common stock which were properly tendered and not properly withdrawn at a price at or below $63.00, there is no proration factor. The depositary will promptly pay for all the shares accepted for payment. Payment for shares purchased will be made in cash, without interest, but subject to applicable withholding taxes.